By Neetha Mahadevan
FRANKFURT--K+S AG said on Friday it received an unsolicited
letter again from Canadian rival Potash Corp. of Saskatchewan Inc.
to take over the German salt and fertilizer company for 41 euros
($45) per share, unchanged from last time it made the proposal.
The deal would value K+S at about EUR7.9 billion.
Potash proposed a business combination agreement along with the
offer price.
K+S had previously rejected the takeover approach saying the
proposal undervalued its products and projects and could compromise
jobs and strategy. It doesn't reflect "the fundamental value of
K+S," it had then said.
Both companies mine potash, a fertilizer, and a tie-up would
create a giant that could control as much as 30% of the global
market.
Write to Neetha Mahadevan at neetha.mahadevan@wsj.com
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